China demand drives Volvo upturn

Volvo Cars has reported record first-half-year sales in 2019 of 340,826 cars, up 7.3 per cent compared with the same period last year.

China, the US and Europe all reported a steady growth for the six-month period, with China recording its highest ever first-half and June sales volumes.

In June, Volvo Cars sold 62,775 cars, down two per cent compared to the same period last year. The decline came from Europe, where sales for the month fell nine per cent to 30,234 cars, as Volvo’s largest market in the region, Sweden, reported a 41.7 per cent sales decline to 5,762 cars. Sweden sales in the month were lower because of higher than usual delivery of cars in the same month last year owing to the implementation of a new emission tax, or the Bonus Malus, from the subsequent month. 

For the first six months of the year, European sales remained steady, with a growth of six per cent. Total sales in the January-to-June period reached 174,398 cars, with the UK and Germany recording growth of 29.6 per cent and 32% respectively.

The company reported its highest ever first-half-year sales in China of 67,741 cars, up 10.2 per cent compared with the same period last year. In June, too, Volvo reported its highest sales ever for China in a single month with a total 13,238 cars sold, up 13.3 per cent.

Volvo’s US sales reached 50,120 cars in the first half of the year, up 5.2 per cent compared with the same period last year. In June, US sales reached 9,934 cars, up 0.7 per cent.